September Hong Kong Jewellery & Gems Fair could show good business

The September Hong Kong Jewellery & Gems Fair, which is divided into two segments, kicked off with its first segment at the AsiaWorld-Expo (AWE) venue on 21 September. The show at the AWE is dedicated to the loose diamonds, gems and pearl industry. The second segment began at the Hong Kong Convention & Exhibition Centre (HKCEC) toady on 23rd September, as an exhibition platform for jewellery. Such segmentation of exhibition platforms for different product categories is the first of its kind in the industry, and although the global trade now has mixed reactions for the same, it is likely to get popular in a few years to develop.

Trade at the AWE began with a dull visitor turnout, but the momentum built up on the second day. The AWE is hosting what could be the largest showcase for the loose diamond industry worldwide, leaving aside any thought of scarcity of goods in the market. India and China were the star buyers like last year, with very few US or European customers on the first two days. It is the general belief that Asia is the dominant growth market, with India being the dominating community in diamond business and local consumption. .

Diamonds prices remained strong. Following the economic slowdown the industry had been quiet in past few months, but as market recovery is being discussed in the business circles, the gem and jewellery trade is expecting some good times ahead.

The gemstone market seemed slow although some of the prominent players in gemstone business are doing fairly well. The HK Show could well be a barometer for the turn of the economic tide it is too early to tell now. With the second edition just underway today, it is a wait and watch for knowing how demands fairs for finished jewellery.